PMS Savers Highlighted At London Meeting

A top level meeting has been held in London this week to again address problems for members of the Presbyterian Mutual Society (PMS).

The ministerial working group was set up to help seek a resolution for the savers and yesterday, Secretary of State for Northern Ireland Owen Paterson chaired the meeting to assess progress to date in seeking a resolution for the thousands of members of the Society who have been unable to access their investments since it entered administration in 2008.

Thousands of savers have been unable to access their money since the society entered administration in 2008.

Owen Paterson said: "We are fully aware of the urgency of this matter. The meeting confirms the will which exists to work together in seeking a solution."

The meeting was attended by First and Deputy First Ministers Peter Robinson (pictured) and Martin McGuinness, Finance Minister Sammy Wilson, Northern Ireland Minister Hugo Swire and Mark Hoban, Financial Secretary to the Treasury.

Mr Paterson continued: "Both before and since the general election, the Prime Minister and I have been firm in our commitment to finding a fair and just resolution to this crisis.

"There is no easy answer, but I am keen to consider all available options to ensure PMS members are treated fairly.

"We have identified several courses of action which will be pursued with urgency over the summer, and we are all clear that it will be important for PMS members that we reach a conclusion as quickly as possible after that.

"We will meet again at the beginning of September," he concluded.

Mr Robinson commented: "The Northern Ireland Executive has at all times remained committed to delivering the best possible solution for PMS savers.

"We have restated that commitment to the new coalition government. Following the meeting a number of work programmes will urgently be taken forward in the coming weeks," he said.

Mr McGuinness said: "It is imperative that both the Executive and the British government work together to deliver a swift and fair resolution to this crisis.

"In the coming weeks we will be working closely with our colleagues in Westminster ensuring that every option, from both a financial and legal perspective, is being rigorously explored in an effort to find a satisfactory solution to the PMS problem."

See: Cameron 'Talks Cuts' As PMS Savers Hope

(BMcC/KMcA)